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Esprit shares surge to highest in over a year as it hires another ex-Zara exec
October 30, 2013 / 2:11 AM / 4 years ago

Esprit shares surge to highest in over a year as it hires another ex-Zara exec

HONG KONG, Oct 30 (Reuters) - Shares of retailer Esprit Holdings jumped more than 7 percent on Wednesday after it said it had hired a former executive from rival Inditex as chief product officer, the latest hire of an employee from the Zara owner.

When Esprit brought in CEO Jose Manuel Martínez Gutiérrez from Inditex last year, investors gave him a resounding vote of confidence and drove Esprit shares to notch their biggest one-day gain in 14 years.

The company said late on Tuesday it had hired Rafael Pastor Espuch as its chief product officer. In May, the company also hired staff from its Spanish rival to drive its restructuring.

Shares of Esprit rose to their highest in more than a year to HK$14.10, outpacing a 0.7 percent gain for the benchmark Hang Seng Index.

Reporting By Donny Kwok; Editing by Anne Marie Roantree

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